Payrix, a Frisco, Texas-based embedded fintech company, extended its Series A financing to over $50m.
The round was led by Blue Star Innovation Partners and Providence Strategic Growth, the growth equity affiliate of Providence Equity Partners.
The company intends to use the funds to enhance its product suite and team, accelerate into global markets and continue to focus on customer experience.
Led by Eric Frazier, Chief Executive Officer, Benny Silberstein, Co-founder and Chief Strategy Officer, Randy McGraw, Chief Product Officer and Corey Wood, Chief Operating Officer, Payrix provides a cloud built, API-first platform that enables vertically-focused SaaS companies (SaaS platforms, websites, mobile apps, retailers and marketplaces) to embed and manage payments natively within their software, securing additional recurring revenue. The company offers clients the choice of payment facilitation-as-a-service (PFaaS) or a full payment infrastructure (payment IaaS) product.